At the ECB's post meeting press conference on Thursday, Jean-Claude Trichet said the overall fiscal framework of the Stability and Growth Pact remains of central importance and should be fully respected. The same applies to the requirement to avoid excessive deficits and to the reference values of 3% and 60% for the deficit and debt-to-GDP ratios respectively. These are the foundations for trust and confidence in EMU.
Introductory statement by Jean-Claude Trichet, President of the E
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